Prince Harry and Meghan say they want financial independence

The Duke and Duchess of Sussex’s surprise announcement that they plan to step back from royal duties and “transition into a new working model” has raised many questions — not least, how they plan to support themselves.
In their statement, Prince Harry and Meghan said they would “work to become financially independent,” and published a detailed document outlining the structure and funding of their household.
CNN’s Bianca Nobilo discusses what this might mean with author Shola Mos-Shogbamimu.

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In This Story: Meghan and Harry

Meghan Markle and Prince Harry are officially the Duke and Duchess of Sussex. In January 2020, they announced their intention to step back from their role as senior members of the British Royal Family.

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  • In This Story: Megxit

    On 8 January 2020, Prince Harry, Duke of Sussex, and Meghan, Duchess of Sussex, announced on Instagram their decision to “step back as ‘senior’ members” of the British royal family; splitting their time between the United Kingdom and North America, and to become financially independent.

    The event was dubbed Megxit (a portmanteau of the name “Meghan”, the word “exit”, and a play on the word “Brexit”) and the term became adopted globally on social and news media, spawning various Internet memes and “Megxit” merchandising.

    Megxit led to a meeting of the royal family on 13 January, dubbed the “Sandringham Summit”. On 18 January, an agreement was announced whereby the couple would “no longer be working members of Britain’s royal family”, and would not use their “Royal Highness” styles.

    Collins English Dictionary added “Megxit” to its online edition as a top-ten Word of 2020.

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